Commercial banks in the U.K. rarely provide loans for redevelopment projects.
| Location | London, United Kingdom |
| Market Value | £2,650,000 |
| Loan Amount | £1,500,000 |
| Loan-to-Value | 55% |
| Duration of Loan | 6 Months |
| Payment Schedule | Balloon + Monthly Interest Payment |
| Asset Type | Commercial Building |
| Completion Time | 10 Days |
Problem
- A corporation had plans to purchase an old mail delivery office for redevelopment.
- The company needed financing but was unable to obtain it from traditional banks, who rarely lend to redevelopment projects.
Solution
- Rikvin Capital performed the necessary due diligence and underwriting and found that the property was in a prime location.
- We were able to provide the loan at 60% LTV for a period of 6 months with a first charge on the property.
- This enabled the borrower to purchase the property and apply for planning.
- The borrower later refinanced the property after receiving planning permission.
Are you looking for an urgent short-term loan?
Liaise with a dedicated specialist when you engage us for our short-term loan services. We will walk you through every step of the loan application.
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